Question

In: Economics

Urban revitalization is used to limit urban sprawl and to revitalize urban centers. This is achieved,...

Urban revitalization is used to limit urban sprawl and to revitalize urban centers. This is achieved, in part, by providing major tax breaks to businesses if they build in formerly “dilapidated” urban areas. Often the revitalization includes “upscale” housing and shopping opportunities. These types of projects often result in the displacement of the poor and the elderly. These types of revitalization projects present social justice issues.

Given the social justice issues, do you support using tax incentives for these types of projects at the expense of the poor and the elderly? Why or why not?

Solutions

Expert Solution

Urban revitalization has mainly two issues

1. Financial- it is mainly to support corporate chains & real estate business , promoting interest of developers

2. Social- the areas which have to be reconstructed , all things that function well there, like informal economies, small businesses , like garages, tea stalls, car maintenance business & all suffer greatly, these are completely ignored & are destroyed to great extent, often bulldozed out . These are mainly run by poor people & so they are at loss completely.

Thus part is invisible to the experts team sent into the urban areas to be revitalized , by the state concerned, in order to explore & lay out the reconstruction maps.

They hardly incorporate employment & sociability networks in property development model, & almost nil rehabilitation programs for the displaced & affected people.

For example, in a problem neighborhood, if people are illiterate, just rebuilding their homes will not solve the problem

Thus rather tha just giving tax benefits to the big business to attract & invite then in the urban areas to be redeveloped, solving the basic problems like education , literacy, sanitation & infrastructure Shoud be focused


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